We’re from the government, and we’re here to help (your depositors)
The FDIC: impressive as hell. They close the 12th biggest bank in Washington after hours on Friday, and reopen parts of it under new management on Saturday:
Horizon’s three drive-up branches, which normally are open on Saturdays, will reopen today with normal business hours as Washington Federal branches. Horizon’s 15 other branches will reopen on Monday.
Over the weekend, Horizon customers can access their accounts through ATMs or online, write checks and use debit cards as usual.
For the barest taste of how much work goes into an operation like that, listen to Chana Joffe-Walt’s ridealong with the FDIC from This American Life. When I hear people moan about how the government can’t do nuffink right, that’s the story which comes to mind.
Update 5/9/08: Planet Money did followup interviews a year later with representatives from the Bank of Clark County, and the FDIC team.
